BOSS Zhipin's Q3 revenue increased by 13.2% year-on-year, net profit up 67.2% | Financial Report Review

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Against the backdrop of a rebound in corporate recruitment demand, China’s largest online recruitment platform BOSS Zhipin (Kanzhun Technology) reported Q3 revenue of 2.163 billion RMB, up 13.2% year-on-year; net profit of 775 million RMB, up 67.2% year-on-year; and a net profit margin of 35.8%, hitting a record high.

Looking ahead, the company expects total revenue for the fourth quarter to range between 2.05 billion RMB and 2.07 billion RMB, representing a year-on-year increase of 12.4% to 13.5%, continuing the current growth momentum.

On the 18th, BOSS Zhipin released its 2025 Q3 financial report:

Revenue was 2.163 billion RMB, up 13.2% year-on-year.Net profit was 775 million RMB, up 67.2% year-on-year; adjusted net profit was 992 million RMB, up 34.2% year-on-year.Operating profit was 687 million RMB, up 108.1% year-on-year; adjusted operating profit was 904 million RMB, up 49.3% year-on-year.

Dual Growth in Revenue and Profit, Steady Expansion of Paying Corporate Clients

Financial data show that BOSS Zhipin’s revenue in the third quarter increased by 13.2% year-on-year to 2.16 billion RMB, and net profit soared by 67.2% year-on-year to 775 million RMB. Adjusted net profit (non-GAAP) was 992 million RMB, up 34.2% year-on-year. This performance benefited from the continued growth in the number of paying corporate clients and optimization of operational efficiency. In the twelve months ended September 30, 2025, the company’s total paying corporate clients reached 6.8 million, representing a year-on-year growth of 13.3%.

On the user side, the platform’s activity also increased steadily. In the third quarter, the company’s average monthly active users (MAU) reached 63.8 million, up 10.0% from 58 million in the same period last year. The synchronised growth of users and paying clients jointly drove the company's revenue growth.

In terms of revenue structure, online recruitment service revenue from corporate clients remains the main growth engine, rising 13.6% year-on-year to 2.15 billion RMB. The company pointed out that this was primarily driven by growth in the number of paying corporate clients. At the same time, revenue from other services targeting job seekers declined, as the company stated this was due to the “streamlining and optimization” of certain value-added services to improve user experience and enhance long-term platform stickiness.

Significant Results in Cost Reduction and Efficiency Improvement, Operating Leverage Effect Stands Out

A major highlight of this quarter’s financial report is BOSS Zhipin’s significant achievements in cost control. Data show that the company’s total operating costs and expenses in the third quarter dropped by 7.0% year-on-year to 1.48 billion RMB.

Specifically, major components such as marketing and R&D expenses both saw notable declines. Marketing expenses decreased by 24.6% year-on-year to 394 million RMB, and R&D expenses fell by 12.1% year-on-year to 408 million RMB. CFO Zhang Yu attributed this to “improved marketing efficiency driven by the platform’s strong network effects, efficient operating leverage, and the continued optimization of share-based compensation expenses.”

Effective cost control directly translated into higher profit margins. Announcements show that BOSS Zhipin’s net profit margin in the third quarter increased by 11.5 percentage points year-on-year, setting a new record.

AI Empowers Recruitment, Stable Outlook

While delivering growth in performance, BOSS Zhipin also emphasized its progress in applying AI technology. Founder, Chairman, and CEO Zhao Peng stated that the company is committed to integrating AI into its technology, product, and operations systems, making it one of the drivers for enhancing user experience, strengthening service capabilities, and achieving efficient operations.

Zhao Peng revealed that the application of AI is already benefiting both job seekers and recruiters. Worth noting, the company is currently “cautiously exploring the possibility of developing AI-driven recruitment into fully managed or delivered services in more specific scenarios.”

For future performance, BOSS Zhipin has given a steady guidance. The company expects total revenue for the fourth quarter of 2025 to be between 2.05 and 2.07 billion RMB, a year-on-year increase of 12.4% to 13.5%, continuing the current growth trend.

Regarding shareholder returns, the board has approved the extension of the share repurchase plan adopted in 2024 for another 12 months to August 2026 and authorized the repurchase of up to $250 million worth of shares during the extension. In addition, Zhao Peng mentioned in a statement that the company completed its annual dividend payout in the third quarter.

After the release of the financial report, BOSS Zhipin’s US shares fell 2.53% in pre-market trading.

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